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Global Wellness Supplements Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Products (Dietary Supplements, Fortified Food & Beverages, Food Intolerance Products and Dermo-Cosmetic Skin Essentials) and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Industry Analysis (2024 to 2029)

Published: March, 2023
ID: 2638
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Wellness Supplements Market Size (2024 to 2029)

The global wellness supplements market size was worth USD 194.8 bn in 2023 and is estimated to grow at a CAGR of 6.4% from 2024 to 2029 and be worth USD 282.6 billion by 2029 from USD 207.2 billion in 2024. The growth of the global dietary supplement market is primarily driven by factors such as an increase in the elderly population and an increased prevalence of chronic diseases.

Wellness Supplements are essential to maintain a healthy lifestyle. Supplements contain all minerals in sufficient quantities to meet the daily needs of a healthy lifestyle. Food supplements generally include calcium, vitamin D, folic acid, and vitamin b12. Pregnant women who are breastfeeding use these supplements because they are usually rich in folic acid. Strict vegetarians may not be able to get enough vitamin B12, zinc, and iron, and these tablets can supplement it. Wellness Supplements are substances intended to add nutritional value to your diet to promote health. Supplements are available in a variety of product forms, including dietary supplements, food intolerance products, fortified or functional foods and beverages, and essential skincare products.

Global Wellness Supplements Market Drivers:

The growing awareness regarding the benefits of wellness supplements, rising healthcare costs, and increased awareness of the consumer transition to nursing are primarily propelling the growth of the global wellness supplements market. Increased health awareness among people around the world is one of the main factors driving the growth of the global wellness supplements market. Across the world, consumers are increasingly realizing the benefits of preventive health over treatment and are transitioning to a healthier lifestyle. Also, as supplements of wellness products increase, the market is revitalizing. The Wellness Supplements category is the sum of healthy food and drink products and complements. This supplement is taken with a regular diet to improve nutrition and promote health. The global wellness supplements market is also experiencing significant growth due to an aging population and related health problems, which are driving demand for nutritional supplements with proven health benefits.

Growth in the Wellness Supplements Market is primarily driven by factors such as increased interest in healthy lifestyles, higher disposable incomes in emerging countries, increased awareness of health products, and the transition from medical care to preventive health. The aging of the population is generally benefiting the market due to the weak immune system. Furthermore, as the disposable income of consumers in developing countries has increased, sales in the region have begun to expand the entire market. The aging of the population is generally benefiting the market due to the weak immune system. Furthermore, as the disposable income of consumers in developing countries has increased, sales in the region have begun to expand the entire market.

The main factors expected to drive the growth of the world Wellness Supplements Market during the forecast period are the increase in the elderly population and the prevalence of chronic diseases in several countries. Also, the growing awareness of the benefits of the wellness supplements market and rising healthcare costs, the move to preventive healthcare is another factor that accelerates growth in the target market during the outlook period. The current trend observed in target markets is changing the way people consume food. Additionally, interest in acquiring and merging players from leading players has increased to add innovative products to existing product portfolios, expand offerings, and strengthen the wellness supplements market presence.

Furthermore, the global market for Wellness Supplements is highly fragmented, with significant market participants taking advantage of several different effective strategies like expanding, joint ventures, mergers and acquisitions, new product launches, and an increase in footprint in this market. The main factors driving Wellness Supplements Market growth are long-term disease outbreaks, rising healthcare prices, a rising population of older people, and increased awareness of the benefits of dietary supplements. Therefore, in the near future, the global Wellness Supplements Market is assumed to grow more positively worldwide in recent years.

Global Wellness Supplements Market Restraints:

The high costs associated with these supplements, the lack of distinction between traditional food categories, and changes in regulatory policy are factors that limit the growth of the global Wellness Supplements Market. Additionally, the marketing of these supplements follows strict regulations, so changing regulatory policies have a negative impact on market growth.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

6.4%

Segments Covered

By Product and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Nestle, Abbott Laboratories, Amway, Otsuka Holdings, Herbalife, Archer Daniels Midland Company, Glanbia, NBTY, GNC Holdings, Nu Skin Enterprises and Others.

 

This research report on the global wellness supplements market has been segmented and sub-segmented based on product and region.

Global Wellness Supplements Market - By Product:

  • Dietary Supplements
    • Vitamin
    • Mineral
    • Protein
    • Herbal
  • Fortified Food & Beverages
    • Omega Fatty Acid
    • Probiotic Food
    • Branded Iodinated Salt
    • Branded Wheat Flour
    • Energy Drinks
    • Sports Drinks
    • Fortified Juices
  • Food Intolerance Products
    • Gluten-free
    • Lactose-free
    • Diabetic Food
  • Dermo-Cosmetic Skin Essentials
    • Anti-Aging
    • Anti-Cellulite
    • Anti-Acne Supplements

Global Wellness Supplements Market – By Region:

  • North America
    • The United States
    • Canada
    • Rest of North America
  • Europe
    • The United Kingdom
    • Spain
    • Germany
    • Italy
    • France
    • Rest of Europe
  • The Asia Pacific
    • India
    • Japan
    • China
    • Australia
    • Singapore
    • Malaysia
    • South Korea
    • New Zealand
    • Southeast Asia
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of LATAM
  • The Middle East and Africa
    • Saudi Arabia
    • UAE
    • Lebanon
    • Jordan
    • Cyprus

The North American region led the market in 2023 and is expected to dominate the worldwide market during the forecast period. This is due to the increasing acceptance of wellness products in several countries in the region due to the increase in the population of older people. Furthermore, increased awareness of protein consumption among middle-aged adults in developed countries such as the United States and Canada, and the maintenance of optimal nutritional levels is expected to increase the demand for Wellness Supplements Market.

The Asia Pacific regional market is expected to post significant growth in terms of earnings during the prediction period due to increased disposable income and increased interest in healthy lifestyles. Furthermore, growth in the Asia-Pacific market is estimated to accelerate as awareness of strengthening/improving nutrition increases in emerging countries such as India, China, Indonesia and Malaysia. In addition, regulatory support for investment promotion along with the expansion of the retail market, and government initiatives, are some of the factors that are foreseen to accelerate the growth of target Wellness Supplements Markets in this area in the coming years. The wellness supplements market in Europe is also envisioned to witness a notable increase in the foreseen period.

KEY MARKET PLAYERS:

Companies playing a major role in the global wellness supplements market include Nestle, Abbott Laboratories, Amway, Otsuka Holdings, Herbalife, Archer Daniels Midland Company, Glanbia Inc., NBTY Inc., GNC Holdings and Nu Skin Enterprises.

RECENT HAPPENINGS IN THE MARKET:

  • In February 2018, a deal was made between Cargill Inc. and Archer Daniels Midland Company (ADM) to launch a joint enterprise for offering soybean meal and oil to customers in Egypt.
  • In September 2017, the United States-based Archer Daniels Midlands Company (ADM) worked with Mayo Clinic, a non-profit academic medical center based in the United States, to provide personalized nutritional products. This trend is expected to accelerate growth in the target market during the forecast period.

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FAQ's

What can be the size of the global Wellness Supplements market by 2028?

By 2028, it is predicted that the global Wellness Supplements market can reach a valuation of US$ 249.4 billion.

What can be the compound annual growth rate of the global Wellness Supplements market?

The global Wellness Supplements market can expand with a CAGR of 6.4% during the forecast period.

Mention the major key players in the global Wellness Supplements market?

Nestle, Abbott Laboratories, Amway, Otsuka Holdings, Herbalife, Archer Daniels Midland Company, Glanbia, NBTY, GNC Holdings, Nu Skin Enterprises and Others.

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